OpenDrives has announced additional funding and the appointment of a new CEO.
Following previous funding rounds led by IAG Capital Partners, add-on funding has been announced with a new capital injection aiming to support the company as it pursues strategic market growth.
Late last year, OpenDrives completed development of its Astraeus data services platform. Based on Kubernetes, Astraeus expands the capabilities of the company’s Atlas solution which is used by broadcasters, sports organisations and others around the globe.
The investment aims to enable OpenDrives to extend its reach across new markets as the company completes the transition from a hardware-centric offering to a pure-play software platform designed to manage high-end video data at scale.
“We could not be more optimistic about OpenDrives’ future in delivering the world’s leading video data management platform for media, entertainment, professional sports, and corporate video production teams,” said Joel Whitley, partner at IAG Capital Partners.
The OpenDrives board also announced the appointment of Trevor Morgan to chief executive officer. As long-time chief operating officer, Morgan led the strategic and operational transformation of the business.
Commenting on the announcement, Morgan said, “With our business transformation behind us, we are well-positioned to expand the use of the OpenDrives platform to video production professionals across all industries and around the globe—wherever companies struggle with complex video, we are the solution partner of choice.”
